I assume you mean 43 pairs. Do you base this on something like margin requirements, or do you just avoid certain currencies altogether?
1 Like
Goodness, yea I meant 43 pairs. I don’t always trade each pair, just when a setup comes along. But I do go through the charts on 48 different instruments. The other 5 are USOIL, AUUSD, AGUSD, AUEUR, AUAUS.
I don’t avoid any particular currency, FTMO allows me to trade 44 pairs and I trade 43 of them. I don’t trade the USDILS.
I don’t come close to minimum margin requirements lol. Never been margin called. When I open trades with my lot size, I know what the lost would be before I open the trade. Even if all my trades hit my SL I’m still under the daily lost limit.
1 Like
I mostly trade off support and resistance but do keep an eye on supply and demand. Really just depends on whats going on with price.
Nice content you got here sir, I have a working strategy that made me 10- 15 percent this month how more months do I have to test it with demo trading before going live account?
If you could backtest it from the last six months then I would be comfortable using it. But just for me, I always try to backtest the past six months before trying something new. You want to try and capture different market conditions that may happen. And even then 6 months is a small sample size, but it’s where I start.
Here are the journals for the week and weekly round up for the charts.
I made a change in the way the journal looks, you’ll notice I have an area colored in grey. It’s the same trade I opened but just a break down of pips and value where I closed some of the position. Usually at my TP1. If it hit TP1 then retraced back to BE you’ll only see one line item for it since the other position closed at BE.
Journals:
1 Like
Here are the final charts for the week. And how the trades finished out, should be able to match them to the journal post above this one as well.
AUDCAD
TP1 then retrace back to BE
AUDCHF
Hit Full TP
AUDNZD
TP1 then retrace back to BE
CHFJPY
Both trades ended up hitting Full TP
EURCAD
TP1 then retrace back to BE
EURJPY
Full TP
EURPLN
Had to close early due to the weekend, but was in profit.
EURUSD
Getting close to end of the week, so moved my SL up. Taken out at BE.
GBPCAD
TP1 then retrace back to BE
GBPJPY
TP1 then retrace back to BE, missed a good move later on too.
NZDJPY
Full TP
NZDUSD
Had to close early, but in profit.
USDCAD
Had to close early, back in profit.
USDCHF
Hit my SL
USDHUF
Hit my SL
USDSEK
Hit my SL
I have also re-organized the first post in the thread, added a link to a good video series on psychology from Tom Hougaard.
Have also added links to the weekly round up post and any post I want linked at the top for ease of access.
2 Likes
awesome brother, going to check it out later this weekend. really appreciate all the info you share with us. nice gains!! i trade USOil too but on my Futures account, spreads are tighter
1 Like
Good luck to everyone this week, let’s get it! 
1 Like
Indeed, charts are ready.
wanna see if USDCAD gets above 1.24 tomorrow. if not, i’ll probably open a short position and look for it to get past Friday’s low
true, thanks for the pic. let’s see how it plays out
Have added a couple links to videos on the bottom of the top post of the thread if anyone wants to take a look at them. They’re more about the psychology side of trading.
1 Like
please i want you to make something clear to me about supply and demand. i thought supply and demand is similar to support and resistance, like they both are just same thing
I’ll post up some charts with examples when I get back in front of my computer on how I view the different zones.
Sometimes they all happen at the same price. And sometimes they have their own little areas going. I think of supply/demand as a weaker support/resistance zone. I usually call it accumulation more so then supply/demand.
Which all that probably confused you more then before. Lol.
wondering if GJ topped. watching
Seems to be ranging at the moment. Not a lot of moment so far. But it is Monday which is usually the slowest day of the week.
Looking at your chart. If it closed above 157.2 I’d buy and if it closes below 156.6 I’d sell. But those are just my takes on it.